What Treasurer Scott Morrision MP said About the Budget Next Week:
Key Points (in Treasurer’s doorstop):
Back into a balance in 2021.
Some $37 billion worth of savings measures have been able to be passed through this Senate.
Halved the deficit since 2015-16. It has ensures that we’ve kept expenditure under control at less than 2 per cent real growth over the Budget and Forward Estimates.
We are seeing our companies become profitable again.
We have a speed limit on taxes which we stick to – 23.9 per cent. That is as high as we believe taxes should be as a share of the economy and we will be sticking to that plan.
The trajectory of the Budget over the medium term is set out every year and it will be again this year. That trajectory will also be conditioned by ensuring taxes do not rise more than 23.9 per cent of the economy. This is a very important point.
The Government has always been of the view that the best form of welfare is a job.
People and families who live every day with a disability must be assured of – and they have our assurance on that – and that is every single dollar of the NDIS that is committed will be supported by a Turnbull Government.
There will be $1.9 billion extra revenue in the GST pool because we have tightened up compliance on the GST, we’ve improved its integrity, we’ve ensured that it now covers things like digital services and parts of the new economy which it did not provide for before - So, that’s $1.9 billion that this Government has ensured is there for states and territories.
Boards are accountable for what happens in their organisations (in relation to AMP Chairwoman resignation).